Charles Schwab Investment Management Inc. Acquires 12,154 Shares of Central Garden & Pet Company $CENT

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Central Garden & Pet Company by 8.8%, owning 150,427 shares valued at approximately $5.5 million as of the latest SEC filing.
• Central Garden & Pet reported earnings of $1.56 per share for the last quarter, surpassing analysts' expectations, although revenue fell by 3.6% year-over-year.
• Insider John D. Walker III sold 3,500 shares of Central Garden & Pet stock, decreasing their ownership by 4.94%, with shares sold at an average price of $32.59.

Charles Schwab Investment Management Inc. raised its holdings in shares of Central Garden & Pet Company (NASDAQ:CENT - Free Report) by 8.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,427 shares of the company's stock after buying an additional 12,154 shares during the period. Charles Schwab Investment Management Inc. owned about 0.23% of Central Garden & Pet worth $5,515,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CENT. Exchange Traded Concepts LLC bought a new position in shares of Central Garden & Pet in the first quarter worth approximately $1,046,000. Millennium Management LLC boosted its position in shares of Central Garden & Pet by 14.5% in the fourth quarter. Millennium Management LLC now owns 186,167 shares of the company's stock worth $7,223,000 after purchasing an additional 23,622 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Central Garden & Pet by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 796,917 shares of the company's stock worth $30,920,000 after purchasing an additional 22,703 shares during the period. XTX Topco Ltd bought a new position in shares of Central Garden & Pet in the first quarter worth approximately $550,000. Finally, ABC Arbitrage SA bought a new position in shares of Central Garden & Pet in the first quarter worth approximately $528,000. 16.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider John D. Walker III sold 3,500 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $32.59, for a total transaction of $114,065.00. Following the completion of the transaction, the insider owned 67,328 shares in the company, valued at approximately $2,194,219.52. This represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Ranelli sold 3,076 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $32.58, for a total transaction of $100,216.08. Following the transaction, the director owned 1,427 shares of the company's stock, valued at approximately $46,491.66. This represents a 68.31% decrease in their position. The disclosure for this sale can be found here. 8.19% of the stock is currently owned by corporate insiders.

Central Garden & Pet Price Performance

Shares of CENT traded up $0.46 during mid-day trading on Tuesday, reaching $36.89. The stock had a trading volume of 75,825 shares, compared to its average volume of 64,558. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.28 and a current ratio of 3.56. The business has a fifty day moving average of $37.35 and a 200 day moving average of $36.21. Central Garden & Pet Company has a 12 month low of $31.97 and a 12 month high of $43.88. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 16.77 and a beta of 0.69.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.22. Central Garden & Pet had a net margin of 4.44% and a return on equity of 10.77%. The firm had revenue of $960.91 million during the quarter, compared to analyst estimates of $993.66 million. During the same quarter in the prior year, the business earned $1.19 earnings per share. Central Garden & Pet's revenue for the quarter was down 3.6% on a year-over-year basis. Equities analysts predict that Central Garden & Pet Company will post 2.38 EPS for the current year.

About Central Garden & Pet

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on dog and cat supplies such as dog treats and chews, toys, pet beds and containment, grooming products, waste management and training pads, supplies for aquatics, small animals, reptiles and pet birds including toys, cages and habitats, bedding, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish, and small animals, as well as outdoor cushions.